Popcat (POPCAT), the popular memecoin on Solana, has just set a new record high of $1.75, with a gain of more than 14% in the past 48 hours, leading the strong rally of Solana-based memecoins.
Source: CoinGecko
POPCAT's market capitalization is now close to $1.7 billion, surpassing Bonk (BONK) to become the second-largest Solana memecoin. BONK is up 4% in the past 24 hours, but the token is still down 7% on its monthly chart.
Meanwhile, Dogwifhat (WIF) also gained 8%, maintaining its position as the largest Solana meme token by market capitalization.
The total market capitalization of Solana memecoins is now over $12 billion, up nearly 7% in a day. This trend reflects the appeal of niche tokens in the cryptocurrency market.
Other Solana memecoin projects such as MEW, BOME, MOODENG, MYRO, and SLERF also recorded gains during this period.
Source: CoinGecko
In addition to the Solana memecoin, tokens like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) have also seen strong gains in the past 24 hours. SHIB is up 9%, while PEPE is up nearly 10%.
DOGE has been one of the best performing memecoins of the day. The token’s value has jumped about 14%, surpassing $0.16, thanks to a recent push from Elon Musk.
Musk's appearance at a Trump rally positioned him for a potential role in the Donald Trump administration, revealing the creation of a “Department of Government Efficiency,” an acronym for DOGE.
If Trump wins the election, traders predict that the price of DOGE could rise even higher. Additionally, the possibility of Musk securing a position in Trump's cabinet has increased over the past two weeks, further fueling speculation about the future of DOGE.
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